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The Latest Breaking News from PBO

Tax bracket creep can reduce government debt but comes at the expense of tax efficiency and fairness, the Parliamentary Budget Office says.

AAP

Negative gearing and capital gains tax discount set to cost the budget $20 billion a year within a decade

The cost of negative gearing is set to more than triple as interest rates rise and, with it, the capital gains tax discount is expected to cost the federal budget more than $20 billion a year within a decade.

ABC News

Tax concessions for housing investors to cost $20bn a year within a decade, analysis shows

Parliamentary budget office report shows high income earners will benefit most from negative gearing and capital gains tax concessions

The Guardian - AU

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Government and opposition butt heads over $2 fare cap after new Department of Transport costing

The Victorian Department of Transport's impartiality has been called into question after it was asked by the Andrews government to cost the opposition's policy proposal.

ABC News

Labor urged to axe $1.9bn in ‘zombie’ fossil fuel subsidies promised by the Coalition

Exclusive: Morrison government announced support for coal and gas projects in ‘gas-fired recovery’ but didn’t formalise contracts, PBO analysis reveals

The Guardian - AU

That $243 billion 'saving' from axing the Stage 3 tax cut is more mirage than reality

What if we could save A$243 billion by abolishing the Stage 3 tax cuts?

The Conversation

The stage three tax cuts are a pile of garbage, and everybody knows it

Anthony Albanese could learn a thing or two from Bob Hawke, who walked back tax cuts promised ahead of the 1983 election

The Guardian - AU

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The cost of Victoria's Suburban Rail Loop could outweigh its benefit according to new analysis

Victoria's Parliamentary Budget Office says the cost of the state's Suburban Rail Loop would outweigh its benefit to the community.

ABC News

Watchdog casts Vic rail line value doubt

A Victorian watchdog has calculated the cost-benefit ratio for the Suburban Rail Loop's first two parts at between 0.6 and 0.7, lower than previous estimates.

AAP

Daniel Andrews won’t confirm $125bn cost estimate for Victoria’s Suburban Rail Loop

Parliamentary Budget Office analysis estimates a $125bn cost for first two stages of the project

The Guardian - AU

Election promises should be costed before polling day, otherwise it's too late

Wouldn’t you know it? Last Thursday the Parliamentary Budget Office released more than 1,000 pages of costings, for promises in the election we just had.

The Conversation

Labor pledge to scrap the cashless debit card will save budget $286.5m over four years

Government’s election promises will add $6.9bn to deficits over four years, Parliamentary Budget Office says

The Guardian - AU

The teal independents want to hold government to account. That starts with high-quality information

The election of a record number of independents to the House of Representatives will undoubtedly increase pressure on parliament to change how it operates. Already the newly elected independent member for Goldstein, Zoe Daniel, has called for more resources for two key institutions, the Parliamentary Budget Office (PBO) and the…

The Conversation

Adam Bandt says the fossil fuel industry receives $10b in federal subsidies a year. Is that correct?

Greens Leader Adam Bandt says the fossil fuel industry receives $10 billion in federal subsidies per year. RMIT ABC Fact Check runs the numbers.

ABC News

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The Conversation

Elections used to be about costings. Here's what's changed

The last week of campaigns used to be frantic, behind the scenes. In public, right up until the final week, the leaders would make all sorts of promises, many of them expensive, with nary a mention of the spending cuts or tax increases that would be needed to pay for…

AAP

Tycoon tax to end offshore gas 'rip-off'

Huge tax breaks for offshore gas projects are ripping off Australian communities, especially in the west, according to the party seeking the balance of power.

ABC News

Labor leader Anthony Albanese forced to clarify whether key health pledge formally costed

Opposition Leader Anthony Albanese has once again been forced to clarify comments he has made on the election campaign trail, hampering efforts to refocus the Labor campaign over the Easter long weekend.

The Guardian - AU

Never mind the bollocks: Albanese’s non-gaffe on immigration was just media hysteria

Perhaps the Labor leader’s point was confusing to some observers because it was logic, as opposed to a premasticated talking point

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The Guardian - AU

Billionaire tax to fund Greens’ $7.5bn plan for Medicare to cover dental

Other policies announced include tackling housing affordability, banning new coal and gas mines and abolishing student debt, Adam Bandt says

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